Rami Levy's Drone Company Moves Toward Tel Aviv Listing at 100 Million Shekel Valuation

Rami Levy is trying to take his drone company public in Tel Aviv. Cando Drones has published a draft prospectus for an initial public offering on the Tel Aviv Stock Exchange, seeking to float 19% of its shares at a post-money valuation of 100 million shekels.

The private company is still at an early stage. It reported 7 million shekels in revenue in 2025, up from 6.3 million shekels in 2024, but ended 2026 with a net loss of 11.9 million shekels, compared with a 6.4 million shekel loss in 2024. Cando was founded by veterans of Israel's security establishment and IDF drone units.

CEO Yoeli Or holds 14.5% of the company. Levy is the largest shareholder with 27.6%, after buying into the firm in 2022. Cando has already tested deliveries between branches of Rami Levy - Shikma Marketing. The company makes drones for both defense and civilian markets and says it focuses on running autonomous drone systems for intelligence, surveillance, facility and border security, and multi-drone operational missions controlled from a single command center.

Cando says it has not yet completed development of all of its commercial products, and that there is still uncertainty over their success and market adoption. At the end of last year it tried to reach the market through a merger with the shell company Retail Minds, but that plan fell through in 2025. It then turned to another fundraising round, and in January 2026 shares were allocated at a 40 million shekel valuation. The company adds another asset to Levy's business empire, alongside his 40% stake in Rami Levy - Shikma Marketing, his 85% holding in Rami Levy Real Estate, and his 21% stake in Israir.